Mizuho Securities USA LLC Cuts Holdings in General Electric (NYSE:GE)

Mizuho Securities USA LLC trimmed its holdings in shares of General Electric (NYSE:GE) by 16.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 70,312 shares of the conglomerate’s stock after selling 14,084 shares during the quarter. Mizuho Securities USA LLC’s holdings in General Electric were worth $13,259,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GE. Toth Financial Advisory Corp purchased a new position in shares of General Electric in the 3rd quarter worth $25,000. Valley Wealth Managers Inc. bought a new position in General Electric in the 3rd quarter worth $25,000. O Brien Wealth Partners LLC bought a new position in General Electric in the 3rd quarter worth $27,000. Peterson Financial Group Inc. bought a new position in General Electric in the 3rd quarter worth $28,000. Finally, Studio Investment Management LLC raised its holdings in General Electric by 97.5% in the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 78 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Stock Up 0.2 %

Shares of NYSE:GE opened at $177.98 on Thursday. General Electric has a 1 year low of $94.54 and a 1 year high of $194.80. The business has a 50 day simple moving average of $182.98 and a two-hundred day simple moving average of $170.96. The firm has a market capitalization of $192.63 billion, a PE ratio of 31.28, a price-to-earnings-growth ratio of 1.75 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.02. The company had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. General Electric’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.82 earnings per share. On average, equities analysts predict that General Electric will post 4.24 EPS for the current year.

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.63%. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Insider Buying and Selling at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the sale, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the completion of the transaction, the senior vice president now owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on GE shares. Wells Fargo & Company raised their target price on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised their target price on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Royal Bank of Canada decreased their target price on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Melius Research raised their price target on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Finally, StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $200.93.

General Electric Company Profile

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.